I have search on google but i did not find any solution for my requirement, so I am putting my question here for good answer.
I have created a field collection in which i am having 4 fields 1) Title, 2) Image 3) Image Link and 4) Description. I want either image or image link should be provided. If Image provided then image link is not necessary to provide or if image link provided then image is not necessary to provide.
Seems like a case of using conditional fields module to achieve this purpose. As it describes -
Define dependencies between fields based on their states and values.